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Sinclair and IS plan to merge

Sinclair Pharma has announced plans for a potential merger with IS Pharma to create a new Europe-wide speciality pharma company

Sinclair Pharma and IS Pharma are in 'advanced discussions' regarding the creation of a new Europe-wide speciality pharma company, according to a statement from Sinclair.

Sinclair IS Pharma, as the new company is planned to be named, would be headquartered in the UK, with a focus on developing products in dermatology and specialist hospital therapies.

Existing therapies from the portfolios of both Sinclair and IS would continue to be developed and marketed, with the new combined company also having in-house development capability.

As it stands, a deal would be an all-share offer from Sinclair, with IS shareholders receiving 2.69 Sinclair shares per one IS share.

Shareholders of Sinclair would own 62.4 per cent of the new company while IS shareholders would have 37.6 per cent.

As well as covering Europe, Sinclair said following the proposed merger, the new company 'would continue to access the substantial growth opportunities in emerging markets through existing and new regional strategic partnerships'.

Any deal depends on a unanimous recommendation by the board of IS regarding any offer from Sinclair.

14th February 2011

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